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Ant International announced it has signed a Memorandum of Understanding with the Abu Dhabi Investment Office and obtained in-principle approval from the Central Bank of the UAE for Stored Value Facilities and Retail Payment Services and Card Schemes licenses. The developments mark a step in the company’s plans to expand its financial technology services in the UAE.
The agreement with the Abu Dhabi Investment Office will involve collaboration to support the growth of Abu Dhabi’s fintech sector. Ant International plans to provide digital tools for local businesses and improve connectivity between the UAE and global markets.
“Abu Dhabi is a key jurisdiction for fintech firms”
H.E. Badr Al-Olama, Director General of the Abu Dhabi Investment Office, commented, “With progressive regulation, robust digital infrastructure and a strategic location, Abu Dhabi is a key jurisdiction for fintech firms that operate globally and seek to partner for longevity. This agreement with Ant International reflects a broader inflection point in digital finance, where scale is no longer just about reach, but about resilience, trust and regulatory clarity. More than just welcoming global fintech players to join our thriving financial ecosystem, Abu Dhabi is actively shaping digital innovation for the future.”
Peng Yang, Chief Executive Officer of Ant International, commented, “The support from ADIO has been instrumental in helping us to establish our presence in Abu Dhabi. This strategic collaborative relationship is foundational to our mission to empower local businesses, especially SMEs, and connect them to new global growth opportunities. We are excited to contribute to the UAE’s growing digital economy and look forward to a future of shared success.”
The in-principle approvals from the Central Bank of the UAE are a prerequisite to securing full licenses. Once granted, Ant International will be able to offer services including merchant acquiring, payment aggregation, e-wallet issuance, and domestic and cross-border fund transfers.
Mr Yang added, “Receiving this In-Principle Approval from the Central Bank of the UAE is a testament to our productive collaboration and shared vision for a digitally-driven, inclusive economy. We are grateful for the guidance and support of CBUAE’s Fintech Office as we work to bring our AI-powered fintech solutions spanning merchant services, wallet technology, and digitisation tools to help scale the UAE’s growth.”
The company stated that these initiatives are in line with the UAE’s “We the UAE 2031” strategy for digitalisation and fintech development.
